Description
Listed with 820 3rd St (APN: 4292-024-004). 814 & 820 3rd Street, a 14-unit opportunity located in prime Santa Monica, one of the most sought-after cities in Southern California. Originally constructed in 1908 and 1940, the Property consists of two single-story bungalow style structures and one two-story building situated on two contiguous lots totaling over 15,000 square feet of land. 814 3rd St is comprised of 9 units with 5 studios and 4 (1+1) units. 820 3rd St features a unit mix of 5 (1+1) units. Rare opportunity for an investor to enter a high-demand rental market with the potential to significantly increase value by renovating units and stabilizing the property. 8 out of the 14 units will be DELIVERED VACANT, providing the opportunity for an investor to immediately upgrade the units and capture market rents. The property is separately metered for electricity and gas and is equipped with 9 garages for tenant parking. Each unit includes their own washer and dryer or laundry hook ups. Through a systemic renovation program, a savvy investor will have the opportunity to capitalize on the rental upside. Additionally, the properties are zoned R3 (medium density residential), offering future development potential (buyer to confirm). he Property is positioned in the highly coveted Wilshire Montana neighborhood of prime Santa Monica. Tenants enjoy being within walking distance to Montana Avenue and only three blocks from the beach. The Property is conveniently surrounded by nearby amenities including critically acclaimed restaurants, trendy bars, shopping, hotels, entertainment venues, and notable destinations including the Montana Ave shops, Downtown Santa Monica, 3rd Street Promenade, and The Santa Monica Pier. Further, the Property is situated among the major Silicon Beach and Culver City employment hubs. 814 & 320 3rd Street presents investors with the rare opportunity to acquire an ideally located, pride of ownership apartment building with significant upside and future development potential.
Location
Listing Agent: Janet Neman 01069127 Courtesy of: Kidder Mathews Of California, Inc. "All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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Updated: 4th February, 2023 6:13 PM (UTC)
